Can I Use My Currensea Card In New Zealand – Best Travel Cards

A brand-new fintech company which I was presented to earlier this year. Can I Use My Currensea Card In New Zealand…

It has actually won a few awards over recent months for what it does (using you a low-priced way to spend abroad) but what I like about  is that it is simple as hell. This is a good idea.

is, efficiently, a direct debit travel card. You simply invest as you would on a normal debit card and the cash is taken from your current account– just without the typical 3% cost.

Oh, and  is free to make an application for, which also assists.

There are also some fascinating travel advantages if you select a paid strategy, however the complimentary plan works fine. You can apply here.

There is an organization model in fintech which Curve, Revolut, Monzo etc have all followed:

launch by doing something well, and free of charge or less expensive than the competition
include more and more functions which your existing consumers don’t really need or want

include charges, charges or restrictions to the feature that made people get your item in the first place, removing any competitive advantage
is presently still in Phase 1 of this process and will hopefully remain there. Revolut, monzo and curve are currently in Stage 3 …
is basic enough that it passes my ‘Can you explain it to your mate in the pub in 30 seconds?’ test:

It is a complimentary direct debit card to utilize abroad and which automatically charges all purchases to your existing bank account in Sterling, less a small 0.5% fee.

That’s it.

You do not (yet …) make any airline company miles or points for utilizing it.

Why would I wish to get a card?
If you have a charge card offering 0% foreign exchange costs, then you do not require a  card, unless you desire free ATM withdrawals. You can stop reading now.

Credit cards which provide benefits and charge 0% FX costs are couple of and far between. The only ‘miles and points’ choices which provide a partial option are the Virgin Atlantic credit cards which have 0% FX fees in the Euro zone.

IS perhaps for you if:

you don’t have a charge card offering 0% FX costs and do not wish to affect your credit report by getting another charge card specifically to use abroad
you desire an item which enables you to make �,� 500 of foreign currency ATM withdrawals monthly with no costs and only a very little FX mark-up (there is a small fee beyond �,� 500).
you desire a product for you, your adult children, parents, partner or anybody else in your life who needs a basic, easy to understand payment card that will conserve them money when taking a trip.

How does  work in practice?
It is, as I said previously, a very simple process. You use your Currensea card in the same way as your existing debit card.

You make your purchase in regional currency (any currency, globally).
Your current account bank instantly validates that you have enough cash in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending on the currency. If you have the free card,  includes a 0.5% charge. If you have one of their paid cards, there are no fees.
You get an automated invest notification through the app, if you pick to install it.
The cash is taken from your current account a few days later on.
Here is an example. Without any foreign travel in the diary, I chose to sprinkle out and purchase 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which reveals �,� 4.33 scheduled to leave my HSBC account a couple of days later:.

But converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is just about to happen (often in a various language) while not telling you about the expensive currency conversion costs happening in the background. Do not get me began. Anyhow back to the positives for a bit anyhow.

Fortunately in the last few years a handful of great travel debit cards have popped onto the scene … and like other terrific cards  assures big savings (85%) and an excellent app.

However I think the very best bit might be what no other card does: connects to your existing high street checking account.

What this implies is you can spend cash you have in your existing bank account with less stress over running out of money and the extra action. However that does not imply it is best.

In this Currensea review is the excellent, the bad, the ugly and the options, so that you can choose.

FX markup.
While our premium plans have no FX markup, we charge a small FX markup on our Vital Strategy of 0.5% per transaction, allowing us to make earnings from our Essential Strategy whilst staying much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM use over the free amount on all our plans, complete information can be found on our rates strategies.

Membership costs.
We charge a yearly membership charge of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The membership charge likewise removes all FX markup on deals.

Interchange.
Each time you invest with your card we get a little % of the deal, known as interchange, this comes straight from the merchant and will not be credited you. Can I Use My Currensea Card In New Zealand